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GOLF CURSE OPERATIONS
STATEMENT OF REVENUES AND EXPENSES
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014
ELBEL ERSKINE STUDEBAKER TOTAL,
Golf Operating Revenues:
Daily Green Fees
$166,150
$168,421
$61,425
$395,995
Season Ticket Sales (a)
59,880
83,552
10,023
153,455
Cart Rentals
21B,674
180,229
20,770
419,573
Merchandise Sales
59,356
60,981
2,217
122,554
Driving Range
17,028
NIA
WA
17,026
Glft certificates (Net)
(1,019)
(4,626)
66
(5,579)
League Entry Fees
420
693
164
1,277
465
Shared Revenues (b)
186
186
93
$1,302,345
Trade-in Payment
2,296
0
0
2,296
GPS Advertising
0
0
0
0
0
140
Course Trends
Miscellaneous
0
1,062
140
1,235
1,383
3,680
Total Golf Operating Revenues:
$524,030
$490,811
$96,140
$1,110,981
Concession Operating Revenues:
$27,891
$20,408
$1,544
$49,844
Food Sales
Pop Sales
18,311
18,299
4,461
41,071
Alcohol Sales
46,861
32,951
NIA
79,611
Golf Outings
4,290
313
NIA
4,603
MiscellaneouslCatering /Other
35
657
0
692
Total Concession Operating Revenues: $97,388 $72.628 $6,006 $176,021
Total Operating Revenues: $621,418 $563,439 $102,146 $1,287,002
Golf Operating Expenses:
Personnel
$286,059
$337,277
$64,551
$687,887
Shared Administrative Expenses (b)
56,642
58,842
13,078
130,759
Cost of Good Sold
49,334
54,575
937
104,846
Supplies
115,597
96,997
7,219
219,813
Contractual
72,833
70,744
13,392
158,968
Trade -in Allowance
2,071
0
0
2,071
Debt Service
0
0
0
0
Total Golf Operating Expenses:
$684,736
$618,434
$99,175
$1,302,345
Concession Operating Expenses:
Personnel
$34,898
$30,212
$0
$65,109
Cost of Goods Sold
39,291
29,051
2,402
70,744
supplies
Contractual
452
1,147
347
3,757
0
10
798
4,914
Capital
0
0
0
0
Total Concession Operating Expenses:
$75,788
$63,366
$2,412
$141,566
Total Operating Expenses:
$660524
$681,B00
$101,587
$1,443,911
Operating Income (Loss)
($39,106)
($118,361)
$559
($156,909)
(a) Season ticket sales are allocated to Obel, Erskine, and Studebaker based on
percentage of season pass play. (39 %, 54 %, 7%, respectively)
(b) Shared advertising revenues and administrative expenses are allocated to Elm, Erskine, and Studebaker
on a 451A, 45 °k, 105/6 basis, respectively. The expenses include shared personnel costs, supplies,
contractuals, and administrative fees.
1
GOLF COURSE OPERATIONS
NONREVERTING REVENUE
THRU DECEMBER 31, 2014
1\
GOLF COURSE OPERATIONS
NONREVERTING CAPITAL EXPENSES
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014
ELBEL ERSKINE STUDEBAKER TOTAL
Capita[
Capital $23,808 $40,634 $508 $64,950
Total Nonreverling Capital Expenses: $23,808 $40,634 $508 $64,950
2
ELBE L
ERSKINS=
STUDEBAKER
TOTAL
Nonreverting Capital Revenue:
Daily Green Fees
$13,420
$13,605
$4,914
$31,938
Season Ticket Sales
11,160
15,572
1,868
28,600
Cart Rentals
138$3
11,502
1,749
27,113
Total Nonreverting Capital Revenue:
$38,443
$40,678
$8,530
$87,651
' The non - reverting capital revenues are a portion of user fees dedicated to capital expenses for golf courses
in the year following their collection.
1\
GOLF COURSE OPERATIONS
NONREVERTING CAPITAL EXPENSES
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014
ELBEL ERSKINE STUDEBAKER TOTAL
Capita[
Capital $23,808 $40,634 $508 $64,950
Total Nonreverling Capital Expenses: $23,808 $40,634 $508 $64,950
2
GOLF COURSE OPERATIONS
REVENUE /EXPENSE PER ROUND PLAYED
THROUGH DECEMBER 31, 2014
ELSEL ERSKINE STUDEBAKER TOTAL
Golf Operating Revenues:
Average Daily Fee Revenue Per DF Round
$10.43
$10.71
$5.90
$9.41
Average Season Pass Revenue Per SP Round
8.24
8.24
8.50
8.24
of Season Pass Play
390/0
54%
7%
Average Cart Revenue per Round
9.43
6.97
2.27
1.79
0.34
6.92
2.34
Average Other Revenue per Round
3.42
Overall Revenue Per Round:
$22.60
$18'88
$8.27
$18.31
Concession Operating Revenues:
Overall Concession Revenue Per Round:
$4.20
$2.81
$0.52
$2.90
Overall Operating Revenue per round:
$26.80
$21.79
$8.78
$21.21
Golf operating Expenses:
Average Golf Expense Per Round Played:
$25.22
$23.91
$8.53
$21.46
Concession Operating Expenses:
Average Concession Expense Per Round Played,
3.27
2.45
0.21
2.33
Overall Operating Expenses Per Round Played;
$28.48
$26.36
$8.73
$23.79
Overall Operating Income (Loss) Per Round Played
($1.69)
($4.58)
$0.05
($2.59)
3
GOLF COURSE NONREVERT[NG REVENUE
REVENUE PER ROUND PLAYED
THROUGH DECEMBER 31, 2014
m
ELBEL
ERSKINE
STUDEBAKER
TOTAL
Nonreverting Capital Revenue:
Daily Fee NR Capfial Per DF Round
$0.84
$0.87
$0.47
$0.76
Season Pass NR Capital Per SP Round
1.54
1.54
1.54
1.54
% of Season Pass Play
39.0%
54.5 °A
6.5%
Cart NR per Round
0.60
0.44
0.15
0.45
Total NR Capital Revenue Per Round Played
$1,66
$1.57
$0.73
$1.44
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GOLF COURSE OPERATIONS
COMPARATIVE ROUNDS PLAYED*
2011 THRU 2014 (THROUGH DECEMBER)
GOLF COURSE
2011
2012
2013
2014
AVERAGE
2011 -13
Elbel (Daily)
15,426
16,687
17,187
15,924
16,433
Elbel (Season)
7,754
10,070
9,077
7,265
8,967
ELSEL TOTAL
23,180
26,757
26,264
23,189
25,400
CHANGE FROM PREV YR.
9,724
15%
^2%
-12%
11,146
Erskine (Daily)
17,948
19,946
16,928
15,724
18,274
Erskine (Season)
11,144
11,478
10,344
10,137
10,989
ERSKINE TOTAL
29,092
31,424
27,272
25,861
29,263
CHANGE FROM PREV YR.
8%
-13%
-5%
Studebaker (Daily)
9,724
11,800
111,914
10,416
11,146
Studebaker (Season)
691
1,643
1,205
1,216
1,180
STUDEBAKER TOTAL
10,415
13,443
13,119
11,632
12,326
CHANGE FROM PREV YR.
29%
-2%
-11%
Total (Daily) 43,098
48,433
46,029
42,064 45,853
Total (Season) 19,589
23,191
20,626
18,618 21,135
TOTAL COURSES 62,687
71,624
66,655
60,682 66,989
CHANGE FROM PREV YR.
14%
-7%
-9%
'One "Round" = 18 Holes @ Elbei and Erskine
One "Round" = 9 holes @ Studebaker
ROUNDS PLAYED YTD
ALL COURSES 201114
7
HOWARD PARK ICE RINK
S'T'ATEMENT OF REVENUE AND EXPENSES
FOR THE 2014 / 2015 SEASON THRU DECEMBER 2014
INCOME:
ENTRANCE FEES -
Adults
$7,092
Children
6,520
Family Ticket
4,715
Rink Rentals
1,970
Micellaneous
2
Total Entrance Fees
$20,299
SKATE SHOP -
Skate Rental
$4,894
Merchandise
8
Skate Sharpening
275
Coat Checking
2
Locker Rentals
212
Total Skate Shop
5,391
CONCESSION -
Food Sales
$1,335
Drink Sales
1,785
Miscellaneous
0
Total Concession
3,121
Total Operating Revenues
$28,811
EXPENSES:
ICE RINK -
Personnel
$27,291
Supplies
5,162
Contractuals
11,747
Capital
0
Total Ice Rink
$44,201
CONCESSION -
Personnel
$339
Supplies
595
Cost of Goods Sold
1,248
Contractuals
0
Cap -dal
0
Total Concession
2,182
Total Operating Expenses
46,383
ICE RINK NET PROFIT (LOSS)
($17,572)
* Season for Ice Rink is Novemberthru March
8
HOWARD PARK ICE RINK
REVENUE REPORT
FOR THE SEASONS 10111,11112,12113,13114&14115
FAMILY RINK SKATE
MONTH ADULTS MINORS TICKET" RENTALS CONCESSIONS SHOP* TOTAL
2010111
November $660 $1,030 NIA $0 $233 $740 $2,663
December 13,272 17,660 N/A 400 5,176 16,399 52,907
TOTAL $13,932 $18,690 $0 $400 $5,409 $17,140 $55,570
2011/12
November
$0
$0
$0
$0
$0
$0
$0
December
6,498
9,135
4,830
798
3,486
6,879
31,626
TOTAL
$6,498
$9,135
$4,830
$798
$3,486
$6,879
$31,626
% Chg. from
Prior Year
- 53.36%
- 51.12%
NIA
99.38%
- 35.55%
- 59.86%
- 43.09%
2012113
November
$0
$0
$0
$0
$0
$0
$0
December
6,690
7,505
4,855
350
2,982
5,284
27,665
TOTAL
$6,690
$7,505
$4,855
$350
$2,982
$5 284
$27,665
% Chg. from
Prior Year
2.95%
- 17.84%
NIA
-56.11%
-14.47%
- 23.19%
- 12.52%
2013144
November
$0
$0
$0
$0
$0
$0
$0
December
7,830
7,485
5,315
2,459
3,209
5,970
32,268
TOTAL
$7,830
$7,486---
$5,315
$2,459
$3,2C9
$5,970
8
% Chg. from
Prior Year
17.04%
-0.27%
9.47%
602.54%
7.62%
12.99%
16.64%
2013114
November
$0
$0
$0
$0
$0
$0
$0
December
7,092
6,520
4,715
1,970
3,121
5,391
28,809
TOTAL
$7,092
$6,520
$4,715
$1,970
$3,121
$5,391
$28,809
% Chg. from
PriorYear
- 9.43%
- 12.89%
- 11.29%
- 19.88%
- 2.75%
-9.70%
- 10.72%
* Family Ticket new safe item for 2011 -12.
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